The Nigeria’s Naira at the close of the trading week, showed a recovery sign at the official market, while the parallel market didn’t see any unusual movement.
According to the data released by the Central Bank of Nigeria (CBN), the exchange rate in the Nigerian Foreign Exchange Market (NFEM) shows that the Naira appreciated marginally, exchamging at N1,546.7212 per Dollar against N1,549.9500 per dollar it traded on Thursday.
This movement signifies a N3.2288 recovery after a long week negative run.
In the parallel market, there was no visible movement as the naira Exchanged for N1670 per dollar in Abuja, while in Lagos, the local currency hovered around N1665 and N1672 for one dollar.